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Category: Economy

The US Economy

Uber, Lyft denied extension to make drivers employees in California
Posted inEconomy

Uber, Lyft denied extension to make drivers employees in California

USNN World Newsby USNN World NewsAugust 17, 2020March 5, 2025
Peter Navarro on stalled coronavirus relief plan: Reaching a deal 'should be easy'
Posted inEconomy

Peter Navarro on stalled coronavirus relief plan: Reaching a deal ‘should be easy’

USNN World Newsby USNN World NewsAugust 16, 2020August 16, 2020
Stocks slide after Congress breaks with no COVID-relief deal
Posted inEconomy

Stocks slide after Congress breaks with no COVID-relief deal

USNN World Newsby USNN World NewsAugust 14, 2020August 14, 2020
Number of Americans filing for unemployment falls below 1M for first time since pandemic started
Posted inEconomy

Number of Americans filing for unemployment falls below 1M for first time since pandemic started

USNN World Newsby USNN World NewsAugust 13, 2020June 20, 2024
Trump says Democrats' mail-in ballot push holding up coronavirus stimulus package
Posted inEconomy

Trump says Democrats’ mail-in ballot push holding up coronavirus stimulus package

USNN World Newsby USNN World NewsAugust 13, 2020March 26, 2025
Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy
Posted inEconomy

Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy

USNN World Newsby USNN World NewsAugust 11, 2020June 4, 2025
PPP responsible for 'majority' of jobs created since May, SBA administrator says
Posted inEconomy

PPP responsible for ‘majority’ of jobs created since May, SBA administrator says

USNN World Newsby USNN World NewsAugust 10, 2020June 20, 2024
Trump payroll tax executive order likely worth $1,200 per worker: Kudlow
Posted inEconomy

Trump payroll tax executive order likely worth $1,200 per worker: Kudlow

USNN World Newsby USNN World NewsAugust 9, 2020August 9, 2020
Canada slaps back at new Trump tariffs with $2.7B in aluminum duties
Posted inEconomy

Canada slaps back at new Trump tariffs with $2.7B in aluminum duties

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020
Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling
Posted inEconomy

Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling

USNN World Newsby USNN World NewsAugust 8, 2020October 14, 2024
President Trump will sign executive orders Saturday aimed at delivering relief to Americans struggling with the economic fallout of the coronavirus pandemic, Fox News has learned. Trump is expected to announce the presidential action during a 3:30 p.m news conference at Trump National Golf Club Bedminster, N.J., before heading to the Hamptons for fundraising events. Trump blamed Democrats Friday for the coronavirus deal stalemate in Congress and said he'd take matters into his own hands. Earlier this week, he previewed executive orders that would extend enhanced federal unemployment benefits, suspend payroll taxes until the end of the year, extend a moratorium on evictions and help with student loan payments. TRUMP SAYS CORONAVIRUS RELIEF EXECUTIVE ORDER COULD COME BY THE END OF THE WEEK 'IF DEMOCRATS CONTINUE TO HOLD RELIEF HOSTAGE' “The president is taking action to provide relief to unemployed Americans, among other actions to provide relief," a senior administration official told Fox News Saturday. Acting unilaterally has its limits and could prompt legal challenges. Trump's orders are narrower in scope than the trillions of dollars Congress is mulling for a massive stimulus to the virus-damaged economy. Congress controls new federal spending and Trump already predicted sidestepping lawmakers will have consequences. “We’ll see, yeah, probably we’ll get sued," Trump told reporters Friday. House Democrats already passed their $3 trillion coronavirus relief bill in May. The Senate GOP last month proposed a $1 trillion plan, though didn't bring the measure to a vote as Republicans were divided on whether more aid is even needed. placeholder DESPITE POLLS AND PANDEMIC, TRUMP CAMPAIGN ARGUES CANDIDATE BETTER POSITIONED THAN IN 2016 House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer have been in talks all week with White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin, but the two sides couldn't strike a deal. Democrats blamed the GOP for failing to understand the gravity of the crisis and for trying to "nickel and dime" struggling Americans, while the White House accused Democrats of not willing to compromise. Trump's actions aren't expected to address some of the big issues that Congressional proposals sought to tackle, including another round of $1,200 stimulus checks, aid to schools to reopen safely, an infusion of cash to revenue-strapped state and local governments, food assistance, new lawsuit protections for businesses and money for mail-in voting for the 2020 elections. Because of provisions in the Constitution that grant the legislative branch spending power, the White House can't just pull hundreds of billions out of the ether without Congressional approval. PELOSI SAYS DEMOCRATS WILLING TO COMPROMISE AT $2T FOR CORONAVIRUS BILL, REJECTED BY TRUMP ADMIN But the Trump administration believes it has access to $140 billion which it can “reprogram.” That includes $80 billion in untapped money from the big coronavirus bill signed into law in March and $40 billion from the Disaster Relief Fund. placeholder The White House believes it can divert some of this funding without congressional blessing, similar to how Trump in 2019 declared a national emergency at the border with Mexico to shift billions of dollars from the Pentagon budget to help pay for a border wall. Pelosi and Schumer earlier this week expressed skepticism about Trump's executive powers. "You can't move that much money," Pelosi said. "We're talking about a major investment." GOP OFFICIALS PREVIEW ‘EPIC’ TRUMP ADDRESS, FIRST FAMILY ROLE IN EVOLVING CONVENTION PROGRAM The Democrats want the White House to continue negotiating with Congress on a big package. "A better way to do this is [to] come to an agreement that meets the needs of the American people -- a much better way," Schumer said. The need for relief is pressing as millions of Americans lost out on the $600-per-week federal unemployment benefit that expired at the end of July. A partial moratorium on evictions on properties with government-backed mortgages also expired at the end of last month. placeholder There are some 110 million Americans living in rental households; up to 23 million renters – or 20 percent – are at risk of eviction by Sept. 30, according to an analysis by the COVID-19 Eviction Defense Project. With the supplemental $600 in unemployment benefits now officially lapsed, about 24 million Americans say they have little to no chance of being able to pay next month's rent, according to a survey by the U.S. Census Bureau. CLICK HERE TO GET THE FOX NEWS APP Rent and mortgage payments are typically the largest monthly expense for Americans: One in four tenant families pays more than half of its income for rent, a rate that’s even higher in cities like San Francisco and New York, according to Harvard’s Joint Center for Housing Studies. New jobless figures from the Labor Department, which cover the week ending August 1, show that more than 1.18 million workers sought aid last week, the lowest since March 14. The latest figures bring the total number of unemployment claims since the shutdown began to more than 55 million. The unemployment rate fell to 10.2%, down from 11.1% in June. Fox News' Mark Meredith, John Roberts, Jon Decker, Chad Pergram, Brooke Singman and Megan Henney contributed to this report.
Posted inEconomy

Trump to sign coronavirus relief executive orders Saturday to help unemployed Americans, others

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020
Trump officials recommend executive action as stimulus talks break down
Posted inEconomy

Trump officials recommend executive action as stimulus talks break down

USNN World Newsby USNN World NewsAugust 7, 2020August 7, 2020

Posts pagination

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NATIONAL NEWS

  • State Trooper, Others Injured in Shooting That Ended at a Kentucky Baptist ChurchState Trooper, Others Injured in Shooting That Ended at a Kentucky Baptist Church
    By T.J. Muscaro A state trooper is wounded and a suspected shooter is dead after an exchange in gunfire on July 13 ended at a ...
  • Trump Defends Bondi, Urges Supporters to Move On From Epstein FilesTrump Defends Bondi, Urges Supporters to Move On From Epstein Files
    By Ryan Morgan President Donald Trump, on July 12, called on his base of supporters not to waste their time and energy focusing on the ...
  • Iga Swiatek Defeats Amanda Anisimova 6–0, 6–0 to Win Her First Wimbledon TitleIga Swiatek Defeats Amanda Anisimova 6–0, 6–0 to Win Her First Wimbledon Title
    By The Associated Press LONDON—For years, Iga Swiatek never quite felt comfortable on Wimbledon’s grass courts, never thought she could add a trophy there to ...
  • Energy Department to Give 1 Million Barrels of Oil to ExxonMobil From US ReservesEnergy Department to Give 1 Million Barrels of Oil to ExxonMobil From US Reserves
    By Naveen Athrappully The Department of Energy (DOE) has authorized the release of crude oil from the United States’ Strategic Petroleum Reserve (SPR) to ExxonMobil ...
  • 10 Non-Tax Policies in Trump’s Megabill That Will Affect Americans10 Non-Tax Policies in Trump’s Megabill That Will Affect Americans
    By Jackson Richman, Joseph Lord and Jacob Burg The One Big Beautiful Bill Act is notable for implementing significant changes to the U.S. tax code, ...
  • Trump Visits Central Texas, Epicenter of Catastrophic Flood That Killed More Than 120Trump Visits Central Texas, Epicenter of Catastrophic Flood That Killed More Than 120
    By Darlene McCormick Sanchez President Donald Trump visited Central Texas on July 11 for a first-hand look at damage from a devastating flood that claimed ...
  • Federal Judge Blocks Trump’s Birthright Citizenship Order After Supreme Court RulingFederal Judge Blocks Trump’s Birthright Citizenship Order After Supreme Court Ruling
    By Jack Phillips A federal judge on Thursday has barred the Trump administration from enforcing the president’s executive order limiting birthright citizenship, coming weeks after ...
  • 31 Construction Workers Rescued After Los Angeles Tunnel Partially Collapses31 Construction Workers Rescued After Los Angeles Tunnel Partially Collapses
    By Katabella Roberts Thirty-one construction workers have been rescued from a huge industrial tunnel that partially collapsed in the Wilmington area of Los Angeles on ...
  • Death Toll From Texas Floods Rises to 119 as at Least 170 Remain MissingDeath Toll From Texas Floods Rises to 119 as at Least 170 Remain Missing
    By Katabella Roberts The number of people who have died from the catastrophic flooding in central Texas over the Fourth of July weekend continues to ...
  • Trump Says BRICS Members Will Get Additional 10 Percent Tariffs Over Dedollarization AttemptTrump Says BRICS Members Will Get Additional 10 Percent Tariffs Over Dedollarization Attempt
    By Lily Zhou President Donald Trump on July 8 reiterated a previous warning to nations in BRICS (Brazil, Russia, India, China, and South Africa) that ...
  • Harvard’s Accreditation at Risk Over Anti-Semitism Response, Trump Admin WarnsHarvard’s Accreditation at Risk Over Anti-Semitism Response, Trump Admin Warns
    By Bill Pan Harvard University may no longer meet accreditation standards because of how it handled anti-Semitism on campus, the Trump administration warned the Ivy ...
  • Supreme Court Clears Way for Mass Federal LayoffsSupreme Court Clears Way for Mass Federal Layoffs
    By Matthew Vadum The Supreme Court on July 8 lifted a lower court order that prevented the Trump administration from carrying out job cuts en ...
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